Why June is the Most Important Month to Choose the Right Lender - Home Loan with Naomi

Decide on The Right Lender this Spring.

YUP! Were at that time of year again, when it’s more important than ever to get pre-approved with the right mortgage lender.

Dear Friends,

Even though it may seem that the West Michigan spring housing market arrives a little later each year, you can still count on it coming. With June upon us tomorrow, we find ourselves in the midst of another brisk Spring market. Most mortgage lenders will see their highest monthly volume of loans closed within the next 3-4 months. It is essential to make sure you will not get stuck in a lender’s pipeline of loans which can get bottle necked during this brisk market. Some lenders are just not as equipped as others to process and close loans in an efficient and timely manner.

Likewise, when the market gets busy, these lenders may not be prepared to handle unique, unforeseen scenarios that may pop up from time to time. Many buyers find this out too late, when they need their lender the most. You will want to ensure that you find a lender who is accessible to you at this time of year. The importance of deciding on whom to place your mortgage with this time of year cannot be understated.

When deciding on a mortgage lender, a smart buyer will:

Get advice from family, friends and their Realtors on who is accountable and competitive in their market place. Buyers will come to realize that local lenders are accountable to them, while other real estate professionals will also be working within the local industry including Selling Realtors, Listing Realtors, Title companies, etc.. Thus, local lenders have more skin in the game to make sure the job gets done properly, efficiently, on time, and that their customer is happy.
Identify lenders who consistently feel the need to spend millions of dollars in advertising and lead generation services that may do this out of necessity, and might not be as competitive with rate and costs as a result.
Recognize that getting approved for a mortgage requires documentation (paperwork). and depending on the circumstances, somewhat of a process. This buyer will not believe the advertisements for 8 minute mortgage approvals.
Detect the banks/credit unions that claim to always have the lowest rates available, who may increase their rates (relative to the competition) during peak season as a way to better manage their pipelines.
Always ask for the Official Dodd/Frank “Loan Estimate” for the loan type and amount they are seeking and/or approved for. The smart borrower will see through a lender that may be trying to play a smoke and mirror game by hiding required fees or miscalculating escrows on another type of form they have devised. If the official “Loan Estimate” can’t be provided, a smart borrower will wisely consider not working with that lender.

The Dodd/Frank Loan Estimate is a lending requirement.

Example of Dodd/Frank Loan Estimate

Let’s face it,
When you need the services of a professional mortgage lender to get the job done, you want efficiency, responsiveness and accountability all at a fair price! Choosing the wrong lender in a very brisk Spring market, favoring Seller’s, can lead to a great deal of frustration in some, or even all of these areas. Fortunately, it is possible even in the most fast paced of markets to work with a mortgage lender who is:

Accessible to get back with you in a timely manner.
Available to you and your Realtor in the evening and weekends.
Able to close your loan on a timely basis.
On par with rate & cost, not only with the local banks and credit unions.
Credible and trustworthy with their pre-approval letter over other lenders (a very important factor in a Seller’s market, one that is too often not considered by a buyer).

Responsiveness, Efficiency, Accountability, Speed, Competitiveness. Settle for Nothing Less.

If you know of someone who is looking to get into the housing market this coming year, please pass my name and contact information along. We greatly appreciate your referrals as our source of business! Thank you for everything.

-Naomi Schroeder, Mortgage Lender

Phone: 877.906.4480
Email: n aomi@polarishfc.com
Website: HomeLoanWithNaomi.com

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Decide on The Right Lender this Spring.

YUP! Were at that time of year again, when it’s more important than ever to get pre-approved with the right mortgage lender.

Dear Friends,

Identify lenders who consistently feel the need to spend millions of dollars in advertising and lead generation services that may do this out of necessity, and might not be as competitive with rate and costs as a result.

Recognize that getting approved for a mortgage requires documentation (paperwork). and depending on the circumstances, somewhat of a process. This buyer will not believe the advertisements for 8 minute mortgage approvals.

Detect the banks/credit unions that claim to always have the lowest rates available, who may increase their rates (relative to the competition) during peak season as a way to better manage their pipelines.

The Dodd/Frank Loan Estimate is a lending requirement.

Example of Dodd/Frank Loan Estimate

Accessible to get back with you in a timely manner.

Available to you and your Realtor in the evening and weekends.

Able to close your loan on a timely basis.

On par with rate & cost, not only with the local banks and credit unions.

Credible and trustworthy with their pre-approval letter over other lenders (a very important factor in a Seller’s market, one that is too often not considered by a buyer).

Responsiveness, Efficiency, Accountability, Speed, Competitiveness. Settle for Nothing Less.

If you know of someone who is looking to get into the housing market this coming year, please pass my name and contact information along. We greatly appreciate your referrals as our source of business! Thank you for everything.

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